Convertible Note Calculator

Model SAFE notes and convertible debt conversions with valuation caps and discount rates

Note Parameters

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%

Conversion Scenario

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$

Conversion Results

Configure your note parameters to see conversion results

Understanding Convertible Notes & SAFEs

Valuation Cap

Sets a maximum valuation at which your investment converts. If the company raises at a higher valuation, you convert at the cap, giving you more equity.

Discount Rate

Gives you a discount on the price per share in the next round. A 20% discount means you pay 80% of what new investors pay.

SAFE vs Convertible Note

SAFEs are simpler with no interest or maturity date. Convertible notes accrue interest and have a maturity date when they must convert or be repaid.

Most Favorable Terms

The calculator automatically uses whichever gives you the better deal: the cap price or the discounted price. You can't "double dip" and use both.